Common use of Cancellation of the Available Facility Clause in Contracts

Cancellation of the Available Facility. The Borrower may, by giving to the Agent not less than 10 Business Days’ prior notice to that effect, cancel the whole or any part (being a minimum amount of $5,000,000) of the Available Facility and no amount so cancelled may be subsequently reinstated. Any cancellation under this Clause 7.1 shall reduce the Commitment and the Available Commitment of each Lender rateably.

Cancellation of the Available Facility. The Borrower may, by giving to the Agent not less than 10 Business Days’ prior notice to that effect, cancel the whole or any part (being a minimum amount of $5,000,000) of the Available Facility and no amount so cancelled may be subsequently reinstated. Any cancellation under this Clause clause 7.1 shall reduce the Commitment and the Available Commitment of each Lender rateably.